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52454657 No.52454657 [Reply] [Original]

https://reddit.com/r/CryptoCurrency/comments/yw2iii/an_analysis_of_chainlink_proofofreserves_and_why/

>> No.52454685

Now prepare for uncontrolled cope and seethe, and possibly racist outbursts, from LINKcels as they see this thread

>> No.52454710

>>52454657
The Great Short draws near

>> No.52454740

>>52454657
linkcels btfo

>> No.52454799

>>52454657
Paxos is using it anon.

>> No.52454808

This is incorrect. There is a use case for Chainlink to help audit centralized exchanges via Proof of Reserves and they are building it with Armanino who does much of the centralized finance auditing in crypto.
Watch this video on how they are trying to create real time auditing using Chainlink
https://youtu.be/wPSc6nUx9Tg
And while it’s true that the off chain to off chain use case can be handled in a different method, you can do interesting things when actually moving that data on chain.
For instance Mint Lock would remove the ability for Tether to print more USDT without first proving they had adequate reserves to cover the mint.
We’ve seen Tether FUD for the past 7 years easily and I can’t think of a better way to finally address those concerns than moving to Chainlinks Proof of Reserve with Mint Lock

>> No.52454854

>>52454657
You expect me to be less intelligent than a redditor? I also have sex with 10/10 women every night.

>> No.52454985

>>52454808
this post reads like an advertisement

>> No.52455037

>>52454985
It is, I am a paid Chainlink Labs Marketer

>> No.52455068
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52455068

>>52454657
Delays only strengthen the dungeon.

>> No.52455089

downvoted :)

>> No.52455112

>>52454657
Merkle trees are cheaper but they do not allow to check data off chain or on multiple chains and cannot trigger events for instance monitor a bridge and stop if reserves are low this actually very simple why is everyone in the comments saying wow this is so technical thank you for the genius take fellow redditor